Whey Protein Market Earnings Margins, Value Of Production & Consumption Demand Figures 2023-2033

 The whey protein market is expected to be worth US$ 19.6 billion in 2023, and is predicted to reach US$ 40.3 billion by 2033.

Rising Chronic Illness Incidences due to Changing Lifestyles, Particularly Among the Millennials, are expected to Increase the Market

Lifestyle-related ailments and illnesses are growing more common in most countries around the world, increasing the demand for healthy dietary products. Whey protein is one such food component that contributes to a well-balanced diet.

Because wellness centers and gyms are continuously recommending protein supplements, shopper interest in such protein supplements has grown significantly. Whey protein's antihypertensive and antibacterial qualities make it a more appealing option for use in a variety of applications.

Whey protein's widespread use in baked goods, dairy products, beverages, chocolate, and cereals may drive market expansion. Whey protein has a longer shelf life than other protein powders on the market, and this distinguishing feature gives it a wider market reach. Transportation is also simple, as it is less perishable and offers more potential for growth.

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Key Takeaways

  • The whey protein market is expected to record a CAGR of 7.5% during the forecast period 2023 to 2033.
  • Growing awareness of the benefits, such as improved physical strength, the availability of enriched minerals and proteins, the prevention of allergy disorders in newborns, and antioxidant protection, are key drivers driving the whey protein market expansion.
  • North America dominates the whey protein market.

Key Development in the Whey Protein Market

  • In July 2022, NZMP Fonterra's global ingredients division engaged in a cooperative venture with Tillamook County Creamery Association (TCCA) and Three Mile Canyon farms in the United States to bring Pro-optimaTM, a grade A functional whey protein concentrate, to market.
  • Carbery, a nutrition specialist firm, introduced Optipep 4Power in a hydrolyzed version in 2020. This product is expected to contribute to addressing the demand for high-intensity training. When compared to other items on the market, it is anticipated to deliver more power.
  • In February 2019, Glanbia, a leading company in sports nutrition supplements, has made a Six Pack Nutrition, an Indian company, has entered into a purchase agreement. The goal of this agreement is to grow the company's market share by providing diverse whey proteins to Indian consumers.
  • The First Milk established cooperation with Hoogwegt Groep BV, a Dutch company, in June 2019. The purpose of the cooperation is to distribute and sell WPC80 whey protein concentrate. First Milk also has a joint venture with a company in New Zealand to make whey protein.
  • Lactalis components launched a high protein concept aimed at sports nutrition and healthy aging in December 2021. The products are high-protein smoothies and pudding made with a blend of two native protein sources, Pronativ native micellar casein, and Pronativ whey protein.
  • In October 2021, Arla Foods opened a 9000 m2 product innovation center in Denmark for its subsidiary Arla Foods Ingredients for research and production of items such as whey concentrates, lactose products, and newborn nutrition.

Information Source: https://www.futuremarketinsights.com/reports/whey-protein-market

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